SharpLink (SBET) did they use the $200 million they raised last Friday to buy $ETH over the weekend?

10 hours ago, a new wallet withdrew 52,809 ETH ($220 million) from Coinbase Prime, and then distributed it to 8 wallets for Ethereum staking, one of which is a known address of SharpLink (SBET).

SharpLink raised $200 million by selling stocks last Friday, so it is very likely that they converted these funds into ETH over the weekend.

Address: 0xC8b7Ada9fb064baF91e03DC6fdcA35E9df2F23EA

If I’m not mistaken, SharpLink (SBET) currently holds a total of 621,000 ETH, worth $2.65 billion. The average purchase price is approximately $3,226.